In regards to the gun, it has to be a 1911 with a bushing barrel. The mags have to be flush fit. If you shoot major (.45 or .40), you can up 8 rounds in them. If you shoot minor (9mm), you can have up to 10 rounds. You can have grip tape on the grip only, fiber-optic sights, and a magwell. There is a box that the pistol should fit into in order to fit the rules and there is a 43oz. weight limit. It would be hard to not make it fit the box if you stick with common aftermarket parts .
You holster and mag pouches have to be on your belt as you would if you were shooting Production. They can't be forward of your hip. The holster can't be a "race" holster. Your typical Kydex works.